Google Agrees To $700M Settlement In Antitrust Case, Promises Play Store Policy Revisions
Portfolio Pulse from Benzinga Neuro
Google, a subsidiary of Alphabet Inc., has agreed to a $700 million settlement in an antitrust case and will revise its Play Store policies to foster competition. The settlement includes a $630 million consumer fund and a $70 million state fund, covering purchases on Google Play from Aug. 16, 2016, to Sept. 30, 2023. Google has not admitted wrongdoing but will make it easier for users to download apps directly from developers and offer alternative in-app billing options. This follows a recent victory by Epic Games in a lawsuit against Google, which found parts of Google's app business anti-competitive.
December 19, 2023 | 7:32 am
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NEUTRAL IMPACT
Google's settlement of the antitrust case for $700M and Play Store policy revisions may lead to increased competition and changes in revenue from the Play Store.
While the settlement removes legal uncertainty, the commitment to policy changes could lead to increased competition in the Play Store, potentially affecting Google's revenue from app sales and in-app purchases. However, the long-term impact on Alphabet's overall financial health is likely to be limited given its diversified revenue streams.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Google's settlement of the antitrust case for $700M and Play Store policy revisions may lead to increased competition and changes in revenue from the Play Store.
While the settlement removes legal uncertainty, the commitment to policy changes could lead to increased competition in the Play Store, potentially affecting Google's revenue from app sales and in-app purchases. However, the long-term impact on Alphabet's overall financial health is likely to be limited given its diversified revenue streams.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100